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The biggest ‘holiday’ you‘ll have is going to be retirement, and the earlier you can start planning for it the better.
However, the journey to retirement can take a little while, and just like your normal holiday, if it doesn’t go smoothly, you could have a real problem. But, like a normal holiday, you can take out insurance to protect you against these problems. Ironically most people consider travel and breakdown insurance to be absolutely critical, but will often forego Life Insurance – which is the most important insurance of all for the most crucial journey you’ll take.
We know that looked at in one way Life Insurance isn’t the most inspiring subject matter, but consider it differently:
When you purchase travel insurance or breakdown cover, you understand it won’t directly replace what you have lost (the plane will still be delayed, the car will still have broken down).
The aim of the insurance is to provide you with a level of compensation so that you can deal with the situation more easily.
Broadly, that’s the basis for most forms of insurance and Life Insurance is no different. Life Insurance (in fact any sort of Protection contract) will never replace what you’ve lost, but will at least enable the people affected to deal with the situation more easily.